Hydra completes first phase of homes project

Abu Dhabi, July 14, 2013

Abu Dhabi-based developer Hydra Properties, completed phase one of construction of Hydra Village, a major new residential development just outside the UAE capital, and has begun the handover of 448 properties.

Hydra Village is located in Al Shahama Abu Dhabi that will become ‘new Abu Dhabi’ in line with plan 2030. When the whole project is complete, it will offer living to more than 10,000 residents.

Ali Saeed Bin Sulayem, chief executive officer of Hydra Properties, said: “We have worked quietly but steadily over the past four years to fulfil our pledge to deliver these wonderful homes to our customers. Each home is built to the high levels of quality that our customers expect and the development as a whole will be a vibrant, family-friendly community.”

“Since the launch of the project we have faced a number of challenges as a result of the global financial crisis, which had an impact on all real estate developers. We successfully implemented an aggressive consolidation strategy, re-allocating customers from underperforming and risky projects into projects that have shown strength, such as Hydra Village.

“The completion of phase one at Hydra Village is the first in a series of milestones we will celebrate as it shapes up to become a comfortable residential community,” he added.

Situated within easy reach of Yas Island, Al Raha and the future Capital District, Hydra Village’s location means residents will be able to travel into Abu Dhabi and Dubai with ease of access and convenience. The development is situated close to Delma Mall, Mussafah and Deerfield Town Square Mall, just a few kilometres away from the development, opening in Q4 this year.

The community development will offer residents quality facilities including shops, restaurants, indoor and outdoor gyms, swimming pools, children’s play areas, and landscaped areas, set to open in the next few months.

Mohamad Al-Habech, chief commercial officer at Hydra Properties, said: “Our commitment to our remaining projects is as fierce as ever. We have ridden out several hurdles and setbacks on our journey like all real estate developers following the downturn, however we were able to take away key learnings and experiences which help make us stronger today.

“We are now focusing all our efforts now on the other zones at Hydra Village and on the Hydra Avenue development on Reem Island. Successful completion of these projects will help bring back consumer confidence in our company and in the recovery of the Abu Dhabi real estate market.”

Zone 8 of the Hydra Village project is currently 50 per cent complete, whilst Zone 6 is approximately 30 per cent complete, he added. – TradeArabia News Service